'Peruvian cotton knitwear sector has potential to grow'

12 Sep '13

2 min read

Peru is a promising supplier of cotton knitted garments in the world and has a huge potential to grow, according to Luis Torres Paz, director of the Commission for the Promotion of Peru Export and Tourism (PROMPERU).

Mr. Paz said that Peru currently occupies the 17th position in terms of cotton knitwear supplies globally with a share of 1.1 percent and has a potential to increase it exports, reports Peruvian newspaper La Republica.

However, the PROMPERU director explained that international crisis has affected the demand for Peruvian cotton knitwear and the average demand from top five markets has also decreased over the past few years.

The average demand for Peruvian cotton knitwear has decreased by 1.9 percent from the US, 0.7 percent from Germany, 0.6 percent from the UK, 0.8 percent from Japan and 2.7 percent from France, he added.

According to the director, the main suppliers of cotton knitted garments in the world are Asian countries, dominated by China which holds 39.2 percent share globally, followed by Bangladesh with 8.6 percent, Hong Kong with 5.3 percent, Turkey with 3.9 percent, India with 3.8 percent and Vietnam with 3.5 percent.

The apparel exports from Peru declined by 17 percent year-on-year to US$ 509 million, during the period between January and May 2013, according to data released by the Association of Exporters (ADITEX).

Fibre2fashion News Desk - India

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